SEC v. Eliyahu Weinstein; Aryeh L. Bromberg; Joel L. Wittels; Richard M. Curry; Christopher J. Anderson; Alaa Mohamed Hattab, et al., No. LR-26049, District of New Jersey (July 15, 2024) — Press Release
raw: Eliyahu Weinstein, Aryeh L. Bromberg, Joel L. Wittels, Richard M. Curry, Christopher J. Anderson, Alaa Mohamed Hattab, and Shlomo Erez
Eliyahu Weinstein, Aryeh L. Bromberg, Joel L. Wittels, Richard M. Curry, Christopher J. Anderson, Alaa Mohamed Hattab, and Shlomo Erez, No. 3:23-cv-03848 (D.N.J. July 15, 2024)
summary
The SEC filed an amended complaint against Eliyahu Weinstein and several co-defendants for orchestrating a $38 million Ponzi-like healthcare investment scheme.
paragraph
The SEC alleges that the defendants raised money for purported healthcare product deals but used funds to make Ponzi-like payments to earlier investors. The defendants face charges for violating antifraud provisions of the Securities Act of 1933 and the Exchange Act of 1934. The Commission is seeking permanent injunctive relief, disgorgement, civil penalties, and officer-and-director bars against all defendants.
narrative
The SEC has filed an amended complaint in the U.S. District Court for the District of New Jersey, adding Shlomo Erez as a defendant in a $38 million Ponzi-like fraud scheme. Orchestrated by Eliyahu Weinstein and several co-defendants, the scheme involved raising investor funds for the purported purchase and sale of healthcare products. The SEC alleges the defendants concealed Weinstein's identity and criminal history while using new investor capital to pay earlier investors. Erez and Alaa Mohamed Hattab are charged with aiding and abetting the fraud, while the primary defendants face direct antifraud charges under the Securities Act of 1933 and the Exchange Act of 1934. The SEC is seeking permanent injunctive relief, disgorgement with prejudgment interest, civil penalties, and officer-and-director bars against all named defendants.
Classified ponzi(confidence 100%). EDGAR detection: forms Form D· recall 35% / precision 15%. detection rule →
Parties
Securities and Exchange CommissionEliyahu WeinsteinRichard M. CurryAryeh L. BrombergAlaa Mohamed HattabChristopher J. AndersonJoel L. WittelsShlomo Erez
Keywords
weinstein aryeharyeh brombergbromberg joeljoel wittelswittels richardrichard currycurry christopherchristopher andersonalaa mohamedmohamed hattabshlomo erezsecurities exchangeerezinvestorseliyahu weinstein
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 1
- $38.00M $38 Million $10M–$100M
Entities 1
- person shlomo erez
Triples 13
- Securities And Exchange Commission filed an Amended Complaint adding Shlomo Erez, a citizen of Israel, as a defendant in its previously filed action alleging a multi-million-dollar Ponzi-like fraud scheme
- Defendants concealed Eliyahu Weinstein's involvement, identity, and criminal history
- Defendants used funds raised from investors to make Ponzi-like payments to earlier investors
- Shlomo Erez aided and abetted the fraudulent scheme-orchestrated by Weinstein and other co-defendants
- Shlomo Erez diverting investor funds for Weinstein's benefit
- Shlomo Erez provided false assurances to existing investors to assuage their concerns
- Shlomo Erez assisting the other defendants in concealing Weinstein's identity from investors
- Securities And Exchange Commission charges Weinstein, Aryeh L. Bromberg, Joel L. Wittels, Richard M. Curry, and Christopher J. Anderson with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder
- Securities And Exchange Commission charges Erez and Alaa Mohamed Hattab with aiding and abetting these violations
- Securities And Exchange Commission seeks against all defendants permanent injunctive relief, disgorgement and prejudgment interest, civil penalties, officer-and director-bars, and conduct-based injunctions
- Securities And Exchange Commission appreciates the assistance of the U.S. Attorney's Office for the District of New Jersey and the FBI
- Securities And Exchange Commission conducted the investigation by Teresa a. Rodriguez, Mary Kay Dunning, Laurel S. Fensterstock, Stewart Gilson, Neil Hendelman, and Wendy B. Tepperman and supervised by Tejal D. Shah
- Commission is being led by Jack Kaufman of the New York Regional Office
PDF (from attached: complaint)
Text layers
Extracted body text (2,511c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26049 / July 15, 2024 Securities and Exchange Commission v. Eliyahu Weinstein, Aryeh L. Bromberg, Joel L. Wittels, Richard M. Curry, Christopher J. Anderson, Alaa Mohamed Hattab, and Shlomo Erez, No. 3:23-cv-03848 (D.N.J. filed July 19, 2023, amended July 12, 2024) SEC Charges Additional Defendant in Connection with $38 Million Ponzi-Like Scheme to Defraud Investors The Securities and Exchange Commission filed an Amended Complaint adding Shlomo Erez, a citizen of Israel, as a defendant in its previously filed action alleging a multi-million-dollar Ponzi-like fraud scheme, which involves raising money from investors to fund purported deals to purchase, distribute, and sell in-demand healthcare products. The SEC alleges that defendants concealed twice-convicted fraudster defendant Eliyahu Weinstein's involvement, identity, and criminal history, and they used funds raised from investors to make Ponzi-like payments to earlier investors. According to the SEC's Amended Complaint, filed in the U.S. District Court for the District of New Jersey, Erez aided and abetted the fraudulent scheme-orchestrated by Weinstein and other co-defendants-by diverting investor funds for Weinstein's benefit, providing false assurances to existing investors to assuage their concerns, and assisting the other defendants in concealing Weinstein's identity from investors. The SEC's Amended Complaint charges defendants Weinstein, Aryeh L. Bromberg, Joel L. Wittels, Richard M. Curry, and Christopher J. Anderson with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and charges Erez and Alaa Mohamed Hattab with aiding and abetting these violations. The SEC seeks against all defendants permanent injunctive relief, disgorgement and prejudgment interest, civil penalties, officer-and director-bars, and conduct-based injunctions. The SEC appreciates the assistance of the U.S. Attorney's Office for the District of New Jersey and the FBI. The SEC's investigation was conducted by Teresa A. Rodriguez, Mary Kay Dunning, Laurel S. Fensterstock, Stewart Gilson, Neil Hendelman, and Wendy B. Tepperman and supervised by Tejal D. Shah, all of the New York Regional Office. The Commission's litigation is being led by Jack Kaufman of the New York Regional Office. For further information, please see Litigation Release No. 25786 (July 24, 2023).
OCR text (2,511c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26049 / July 15, 2024 Securities and Exchange Commission v. Eliyahu Weinstein, Aryeh L. Bromberg, Joel L. Wittels, Richard M. Curry, Christopher J. Anderson, Alaa Mohamed Hattab, and Shlomo Erez, No. 3:23-cv-03848 (D.N.J. filed July 19, 2023, amended July 12, 2024) SEC Charges Additional Defendant in Connection with $38 Million Ponzi-Like Scheme to Defraud Investors The Securities and Exchange Commission filed an Amended Complaint adding Shlomo Erez, a citizen of Israel, as a defendant in its previously filed action alleging a multi-million-dollar Ponzi-like fraud scheme, which involves raising money from investors to fund purported deals to purchase, distribute, and sell in-demand healthcare products. The SEC alleges that defendants concealed twice-convicted fraudster defendant Eliyahu Weinstein's involvement, identity, and criminal history, and they used funds raised from investors to make Ponzi-like payments to earlier investors. According to the SEC's Amended Complaint, filed in the U.S. District Court for the District of New Jersey, Erez aided and abetted the fraudulent scheme-orchestrated by Weinstein and other co-defendants-by diverting investor funds for Weinstein's benefit, providing false assurances to existing investors to assuage their concerns, and assisting the other defendants in concealing Weinstein's identity from investors. The SEC's Amended Complaint charges defendants Weinstein, Aryeh L. Bromberg, Joel L. Wittels, Richard M. Curry, and Christopher J. Anderson with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and charges Erez and Alaa Mohamed Hattab with aiding and abetting these violations. The SEC seeks against all defendants permanent injunctive relief, disgorgement and prejudgment interest, civil penalties, officer-and director-bars, and conduct-based injunctions. The SEC appreciates the assistance of the U.S. Attorney's Office for the District of New Jersey and the FBI. The SEC's investigation was conducted by Teresa A. Rodriguez, Mary Kay Dunning, Laurel S. Fensterstock, Stewart Gilson, Neil Hendelman, and Wendy B. Tepperman and supervised by Tejal D. Shah, all of the New York Regional Office. The Commission's litigation is being led by Jack Kaufman of the New York Regional Office. For further information, please see Litigation Release No. 25786 (July 24, 2023).